GlobalWafers was included in the MSCI Global Standard Indexes after being removed from the MSCI Global Small Cap Indexes.

THSRC, which listed on the Taiwan Stock Exchange on Oct. 27, 2016 with an issue price of NT$15.15, had not been listed on any MSCI indexes previously.

Market analysts said the inclusion reflected the gains posted by the two stocks in the first quarter when Taiwan's stock markets benefited from large foreign fund inflows.

In the first quarter, shares of THSRC, Taiwan's only high-speed rail operator, rose about 16 percent on the Taiwan Stock Exchange, while GlobalWafers soared 97.4 percent on the over-the-counter market in the wake of its acquisition of U.S. counterpart SunEdison Semiconductor Ltd.

GlobalWafers became the third largest silicon wafer supplier in the world once the acquisition was completed in December 2016.

Despite the MSCI announcement posted on its website overnight, the two stocks moved lower Tuesday in line with the broader market, which stumbled on technical resistance in the bellwether electronics sector after the weighted index breached the 10,000-point mark.

As of 12:38 p.m., THSRC shares had fallen 2.95 percent to NT$23.00 on the TWSE, where the weighted index was down 0.21 percent at 10,015.44, while GlobalWafers was down 2.50 percent at NT$234.00 on the OTC market, where the index was down 0.36 percent at 132.45

After its index review, MSCI also decided to remove Casetek Holdings Ltd. (鎧勝), a metal casing maker, from the MSCI Global Standard Indexes but add it to the MSCI Global Small Cap Indexes.